49th Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Taskforce of Senior Officials meeting at Speke Resort Munyonyo
President Yoweri Museveni has reaffirmed Uganda’s commitment to continue supporting regional & global initiatives aimed at building a safer and more transparent financial system.
Museveni’s message delivered by the Prime Minister, Robina Nabbanja at the official opening of the 49th Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Task force of Senior Officials meeting at Speke Resort Munyonyo.
The President said priority should be given to information sharing, capacity building and harmonisation of policies that will enhance the region’s ability to detect, prevent and prosecute money laundering and terrorism financing.
The 49th ESAAMLG Task Force of Senior Officials Meeting brings together key stakeholders from Eastern and Southern Africa to strengthen regional collaboration in combating financial crimes and promoting financial integrity.
Museveni commended ESAAMLG for its contribution towards the removal of Uganda from the FATF grey list in 2024.
“Money laundering and the financing of terrorism and proliferation of weapons of mass destruction are not mere financial crimes, they pose direct threats to our national security, economic stability and development,” said the President.
Minister of State for General Duties, Henry Musasizi who represented Finance Minister, Matia Kasija said Uganda has taken deliberate steps to enhance its anti-money laundering/combating financing of terrorism legal, regulatory and operational regime.
Musasizi said Uganda has embraced a risk-based approach to supervision. The Finance Ministry Permanent Secretary and the Secretary to Treasury, Ramathan Ggoobi, also the head of Uganda’s delegation said the misuse of emerging technologies, the cross-border nature of illicit financial flows, and the lingering vulnerabilities within the frameworks for anti-money laundering/ combating financing of terrorism call for a more unified, strategic and adaptive response.
Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Task Force of Senior Officials Meeting provides a strategic platform for countries in the region to review progress in implementing Financial Action Task Force (FATF) recommendations on Anti-Money Laundering / Combating the Financing of Terrorism.
It discusses regional challenges in tackling financial crimes and propose joint solutions. Assess mutual evaluation reports to ensure compliance with international AML/CFT standards.
It enhances cooperation between financial intelligence units (FIUs) and law enforcement bodies. As the host country, Uganda reaffirms its commitment to strengthening financial intelligence and compliance measures to safeguard the economy against illicit financial flows.
The Financial Intelligence Authority (FIA Uganda) has been at the forefront of enhancing anti-money laundering and countering financing of terrorism.
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